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Global Financial Analytics Market to Grow at an Estimated CAGR of 14.6% During the Forecast Period 2021-2030

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Financial Analytics Market

The Global Financial Analytics Market is anticipated to grow at a CAGR of 14.6% in the forecast period (2021-2030). Financial Analytics is an advanced tool through which an effective and predictive decision can be taken effortlessly. Hence increasing inclination towards business analytics and to sustain the rapid volatile nature of the financial industry, financial analytics is widely being deployed to mitigate the risk involved. This solution in broadly being used for corporate industries and in equity market research application. One of the newest advancement in financial analytics is ‘Financial Robots’ an automated analytic tool which can automate the investment process and can manage the portfolio in real time situations.

The scope of the global financial analytics market includes deployment types comprising on-demand (cloud) and on premise. It further includes the various tools used in the financial analytics such as analytical solutions; consulting & support services; data integration tools; database management system; OLAP & virtualization tools and query, reporting and analysis. The report also includes the detailed analysis of the numerous applications of financial analytics. The numerous application segments include asset & liability management; budgetary control management; general ledger management; governance, risk & compliance management; payables management; profitability management; receivables management; and others. The scope of financial analytics in several verticals have been further analyzed comprising banking, financial services and insurance; consumer goods and retail; government, healthcare & life science; manufacturing; media & entertainment; public sector, energy & utilities; telecommunication and IT; travel & hospitality and various other verticals. Revenue generated by small & medium enterprises and large enterprises within this market have also been taken into consideration. Software, integration and consulting services are also being considered while evaluating market revenue.

Browse full report at https://www.atlanticmarketresearch.com/report/financial-analytics-market

By 2021, approx. 80% of the small businesses within the U.S. are projected to fully adapt cloud computing, up from 37% in 2015. Rise in adoption rate of cloud services by small companies is backed by the lower costs, better collaboration, greater integration and increased mobility & flexibility offered by cloud solutions. BFSI accounted for more than 30% of the total revenues in financial analytics market for 2020, fiscal year. Adoption rate amongst large enterprises were higher in the base year 2020. Adoption rate amongst various SME’s is also estimated to grow significantly. Financial analytics market has vast scope in BSFI sector. These solutions are widely within this industry for risk analysis, predictive analysis, as well as in day to day operations work including cash deposit & withdrawal and in determining premium amount within insurance companies. Banking sector is rapidly adopting big data analytics for smooth operations and for predicting futuristic financial situations.

On-demand deployment model or can be said cloud based model refers to an Internet based computing that provides computer sources to the computers as well as other devices on demand. This model permits omnipresent and on-demand access to the shared pool of the configurable computing resources. It has been projected that a tremendous shift towards cloud based services will impact over $1.3 trillion in the IT spending. On-demand financial analytics platform can have drastic benefits for an enterprise’s bottom line. It has been witnessed that companies deploying cloud environments witness 16% growth year over year in comparison to just 3% with those companies using on-premises analytics. Such factors have attributed towards the growth rate of the on-demand financial analytics model. This deployment model is projected to witness a growth rate of 17% during 2021 to 2030.

The top growing market segments include profitability management, on-demand model and customer & support services with a CAGR OF 17.3%, 17% and 15.8% respectively. In the application segment, profitability segment is expected to witness the highest growth rate in comparison to other segments. Profitability management segment growth is backed by the rising need to take accurate profitable decisions. Financial analytics assists the organizations while quoting commercial pricing for products after analyzing the overall amount invested for a particular product.

Geographically, North America dominates the financial analytics market. The whole NA region is vastly filled with key players such as, Microsoft, Oracle, SAP and SAS, also the region has the huge amount of disposable income which is meticulously turning into investments, this accounts for the highest level of financial analytics deployment in the region. Asia Pacific region is witnessing high growth in economic activities i.e. the GDP of some of the top growing countries such as China and India is growing and remains to be higher than developed countries. This huge growth coupled with increasing financial transaction and big data involvement in the region, APAC region is likely to with the highest CAGR 16.2% in the forecast period.

Some of the major companies involved in SAP, SAS, IBM, Oracle and Microsoft. Amongst them, SAP holds the largest market share with respect to others as it has its wide presence across geographies and has the highest revenue in financial analytics market (estimated). Mergers and acquisitions remain as the key strategy adopted by the market players to enhance their market share at global level and expand their geographical presence.

KEY MARKET MOVEMENTS

  • The ‘Global Financial Analytics Market’ is anticipated to grow at a CAGR of 14.6% in the forecast period (2021-2030).
  • increasing inclination towards business analytics and to sustain the rapid volatile nature of the financial industry, financial analytics is widely being deployed to mitigate the risk involved.
  • BFSI accounted for more than 30% of the total revenues in financial analytics market for 2020, fiscal year.
  • This deployment model is projected to witness a growth rate of 17% during 2021 to 2029.
  • The top growing market segments include profitability management, on-demand model and customer & support services with a CAGR OF 17.3%, 17% and 15.8% respectively.
  • Geographically, North America dominates the financial analytics market.
  • This huge growth coupled with increasing financial transaction and big data involvement in the region, APAC region is likely to with the highest CAGR 16.2% in the forecast period.
  • Some of the major companies involved in SAP, SAS, IBM, Oracle and Microsoft.
  • Mergers and acquisitions remain as the key strategy adopted by the market players to enhance their market share at global level and expand their geographical presence.